**Charity Registration No. 1059464**
## **Company Registration No. 3277668 (England and Wales)**
**EUROPEAN CHRISTIAN MISSION (BRITAIN) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020**
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|Mike McMaster (Chair)|
|---|---|
||Joanne Appleton|
||Tim Herbert|
||Richard Lawson|
||Esther Ross|
||Simone Lockyer|
||Stephen Thompson|
|**Secretary**|Richard Lindley|
|**Charity number**|1059464|
|**Company number**|3277668|
|**Registered office**|Unit F34/35|
||Moulton Park Business Centre|
||Redhouse Road|
||Northampton|
||NN3 6AQ|
|**Auditor**|Jacob Cavenagh & Skeet|
||5 Robin Hood Lane|
||Sutton|
||Surrey|
||SM1 2SW|
|**Bankers**|Lloyds Bank plc|
||George Row|
||Northampton|
||NN1 2HG|
|**Solicitors**|Anthony Collins Solicitors|
||134 Edmund Street|
||Birmingham|
||B3 2ES|
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Statement of trustees' responsibilities|6|
|Independent auditor's report|7 - 9|
|Statement of financial activities|10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 24|
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2020**
The trustees present their report and financial statements for the year ended 31 December 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum & Articles of Association , the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Structure, governance and management**
The charity is a company limited by guarante e, company no. 3277668, registered with the Charity Commission, charity no. 1059464, and is governed by the provisions contained within the Memorandum and Articles of Association.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mike McMaster (Chair) Simon Loveless (Chair of Finance sub-committee) (Retired 22 April 2021) Colyn Robinson (Treasurer) (Resigned 12 March 2020) Joanne Appleton Don Gyton (Retired 12 March 2020) Tim Herbert Richard Lawson Esther Ross Simone Lockyer Stephen Thompson
All Trustees are members of the charitable company and stand as guarantors of the charitable company in the sum of £1 each.
There can be up to twelve Trustees. Once appointed, Trustees serve for a period of four years. At least two Trustees are appointed by the existing board and at least two by the members of the mission at annual general meetings.
All Trustees’ decisions are taken at their quarterly meetings.
## **Our People**
At the end of 2020, ECM (Britain) had 32 missionaries, 10 Associates, 2 short-term and 4 accepted candidates, and a number of new candidate leads are being followed up. In addition there were nine salaried staff (eight of whom are part-time) and three volunteers.
Missionary recruitment remains an ongoing strategic priority, although the funding of new and existing missionaries remains a challenge, given the high cost of living in most European countries and the changes to the exchange rate. The effect that Brexit has had both on recruitment and those missionaries already living in mainland Europe continues to be monitored.
The Trustees delegate the day-to-day management of the organisation to the British Director.
## **Trustee induction and training**
A ppropriate Trustee induction training is provided for new Trustees. An annual 24-hour retreat for Trustees has been run most years since 2005 (although it may not take place during 202 1 due to Covid-19), at which longer-term issues are addressed and a governance review is conducted.
Remuneration of all UK staff is set with regards to market rates and the relevant experience of the staff member and reviewed on an annual basis to ensure that pay levels are fair.
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## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Affiliation**
ECM (Britain) works in close partnership with ECM (International) and the terms of our relationship are set out in a covenant agreement.
The Board of Trustees of ECM (International) is responsible for ECM’s shared doctrinal and spiritual principles and the general direction and development of ministries in Europe. The Trustees of ECM (Britain) are responsible for promotional work in Britain, the recruitment and member care of personnel and the raising of resources to carry out European ministry.
## **Objectives and activities**
The charity's object is the advancement of the Christian faith in Europe and elsewhere by means of:
- the evangelism of the peoples of Europe, irrespective of background, creed, nationality and current place of residence;
- the encouragement and strengthening of evangelical churches throughout Europe;
- the establishment of evangelical churches; and
- demonstrating the Gospel of Jesus Christ through the relief of poverty and sickness.
## **Our Primary Mission**
The mission of ECM (Britain) is to equip, connect and multiply followers of Jesus through discipleship and church planting so we see a Europe that is full of churches, that are full of people, that are full of Jesus!
Our unique contribution to this movement of God’s Spirit is to:
- remind the UK church that Europe is indeed a mission field in need of evangelism, church-planting, discipleship and church development;
- support the people who God has called into these vital ministries so that they are equipped through recruitment, training, sending, member care and mentoring.
## **Public benefit**
The Trustees are aware of the Charity Commission’s guidance on public benefit and, in particular, the specific guidance offered to charities with these objects. As explained below, the charity has addressed a range of such public benefit and the Trustees confirm that the charity’s activities fall within these objects.
Under the Public Benefit guidelines, for religion to be charitable, it must be ‘advanced’, i.e. promoted or extended. As our charitable objects include the evangelisation of the peoples of Europe, and the establishing and strengthening of evangelical churches across Europe, we thereby meet this requirement.
The identifiable benefits include the transformation of lives through the gospel of Jesus Christ, and the fellowship, friendships and relationships created or restored through participation in the life of a local church. These benefits are available to members of the public from all levels of social life across Europe, as we work in communities ranging from the affluent, such as in Austria, through to the most economically and socially marginalised, such as immigrants and refugees in camps.
Other benefits to wider society include the drug education, prevention and rehabilitation work undertaken by the Good Samaritan Association in Spain; education provided to children and training to adults in Lushnje, Albania; alcohol abuse reduction through the work of the Teabus in Carinthia, Austria; and friendship and support offered to refugees and asylum seekers in Gloucester, England, although all of these initiatives have been affected during 2020 by the pandemic. These are just a few examples of the wider social services and community benefits provided by the outreach activities of churches planted and supported by ECM (Britain) missionaries and national partners.
## **Fundraising policy**
ECM (Britain) manages most of the communications and fundraising information internally and only uses a commercial participator to fill skills gaps or capacity shortfalls, such as an agency to print the magazine or send a mailing. ECM (Britain) raises the majority of its funds from supporters with a long term association with the charity. No complaints about fundraising strategy were received during the period.
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## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
## **Grant-making policy**
G rants are made within the ECM network, primarily for approved field projects or similar (e.g. the Good Samaritan Association in Spain) and occasionally to other ECM sending sections to assist their development. Grants are also o ccasionally given to external partners. Grants may be one-off, multiyear (often on a reducing basis), or open-ended. In most cases, such grants are funded from legacy income or from funds raised specifically for that purpose from donors.
## **Investment policy**
ECM (Britain) will maintain its legal responsibility to optimise the return on investments. A balance between risk and return will be sought appropriate to the amount of funds available. High risk will not be acceptable but some degree of risk must be accepted to gain a good return. Agreement regarding the type of investment vehicle used will be made by the Trustees at the appropriate juncture.
## **Achievements and performance**
ECM (Britain) exists to see the peoples of Europe transformed in the name of Jesus Christ. That is carried out through Christian missionary work in Europe, primarily in support of church-planting and discipleship. During 2020 our central areas of emphasis were in the areas of recruitment and training of new missionaries, care for existing workers, engaging collaboratively with like-minded organisations, support for other parts of ECM, and ongoing promotional and fundraising work.
## Mission Strategy
Our mission strategy continued to be achieved through the areas of church-planting, discipleship, leadership development and social care. Efforts to support these ministries in Europe, both through ECM workers and through national church partners, were carried forward through fundraising, recruitment, training and in other practical ways.
## Sending Missionaries and Supporting National Workers
Equipping, enabling and supporting dedicated individuals and couples so that they can use their God-given gifts and skills in effective ministry across Europe remains our primary function. As these people may be working in their own nation or be serving cross-culturally, the services we provide are uniquely tailored to their specific location and needs, but can include mentoring, calling discernment, bespoke training support, member care, financial services and more. During 2020 ECM (Britain) had over 40 missionaries or partners serving in Portugal, Spain, France, England, Austria, Germany, Belgium, Netherlands, Croatia, Bosnia, Serbia, Kosovo, Romania, Slovenia and Albania.
## **Our Investment in the ECM Network**
During 2020, ECM (Britain) provided financial and/or consultancy support to ECM sections or related work and individuals in nations including Croatia, Belgium, Ireland, Spain, Albania, Kosovo, Romania, France, Serbia as well as ECM International, in accordance with our grant-making policy to build the capacity of the whole network.
## **Our Passion for Partnership**
Partnership is both an important value and an important strategy for ECM (Britain) and we want to thank all
who have partnered with us in 2020.
We value the importance of working with others because the Bible emphasises the importance of unity within
Christ’s body, the Church. Healthy partnerships are an expression of that unity.
We value the strategic importance of collaborative relationships that help grow the kingdom of God because the needs and opportunities in Europe are simply too large for us to respond to alone.
## Some of our ongoing partnerships included:
1. Many churches within the UK, for whom we act as their sending and supporting partner so that their members can serve in Europe;
2. Charitable Trusts and individual donors who want to partner with us in funding missionaries or specific projects which align with their objectives;
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## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020**
3. ECM (International) — the umbrella organisation coordinating the collaborative efforts of individual independent ECM organisations around the world — for whom we have provided leadership of strategic groups, support of key functions, input into policy decisions and income;
4. How Will They Hear, a collaboration of Christian organisations seeking to highlight the needs and opportunities amongst migrants and refugees in Europe;
5. Redcliffe College, which has a specialisation in European ministry for which we provided a Masters programme lecturer;
6. Trans World Radio Europe, a mission organisation with offices on the continent for whom we have agreed to handle applicants from within the UK.
## **Financial review**
The trustees are mindful that the income for the charity continues to rely on generous legacy donations to achieve stability, with the income from regular donations falling in 2020. Detailed accounts are to be found in the Statement of Financial Activities and Balance Sheet. There was an overall surplus of £11,093 for the year (2019: £93,646). After transfers, there was a surplus in unrestricted funds of £27,296 (2019: £43,517), a surplus in designated funds of £0 (2019: surplus £806) and a deficit in restricted funds of £16,203 (2019: surplus of £49,323). The deficit before transfers in unrestricted funds was £52,590 (2019: deficit £37,900). Legacy income was in line with forecast at £65,390 (2019: £136,339). The transfer of £79,886 (2019: £81,417) from restricted to unrestricted funds reflects an allocation of our costs, in line with our accounting policies.
The designated fund balance of £317,023 (2019: £317,023) reflects the building designated fund and other unallocated funds. The unstable Euro/Sterling exchange rate has created issues during 2020. Restricted income £824,251 (2019: £858,340) has decreased and expenditure for the support of missionaries has increased to £740,996 (2019: £696,799).
## **Reserves policy**
The Trustees aim to hold unrestricted reserves (that is, those funds not tied up in fixed assets, designated or restricted funds, less pension liability) equal to approximately three month’s normal expenditure (£70,000), to cover fluctuations in donation income.
The Trustees also aim to hold 3 months balances in certain restricted funds, i.e. those for our overseas staff, to cover fluctuations in donation income to these funds. The trustees have also determined that the proceeds from the sale of the owned property asset would continue to be retained as designated funds for reinvestment in alternative premises.
At the year end, the charity had total funds of £1,020,122 of which £489,763 were restricted, £317,023 were designated and £213,336 were unrestricted.
## **Our Primary Risks**
The Trustees regularly identify and review major risks to which the charity might be exposed and have established systems to mitigate the risks. Financial sustainability is the major financial risk facing the charity and this is being managed by the UK Director through continued promotion, fundraising and increasing the charity ’s presence on social media. We praise God that ECM (Britain)’s financial situation remains strong despite the many challenges thrown up by the COVID-19 pandemic.
## **Our Future Plans**
The COVID-19 pandemic has underlined the need for charities to be flexible and resilient in today’s everchanging world. ECM (Britain) is now engaged in a long-term strategic planning process which is reviewing our best unique contribution to ministry in Europe at this moment in history.
While it is too early to predict the outcomes of this process, we will continue to focus on equipping, connecting and mobilising in ways such as those shown below:
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EUROPEAN CHRISTIAN MISSION (BRITAIN)
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
EQUIP
We identsfy people ¥ God-given gifts and abilities and develop trem into ministy and leadership.
We train people to live out and speak out the good news where they are.
We lovingly Ca for people so they thrive in both life and ministry.
CONNECT
We build netsvorks SO that God & resources in one place can extend his kingdom in another.
We encourage people lo work in teams so their ministh.es have greater impact.
We actively work together and fomi partnerships as a way of showing the unity of Chtlst ¥ church.
MULTIPLY
We mobilise and inspire people for God ¥ mission in Europe.
We challenge people to become disciples of Jesus who themselves make more disciples.
We make possible the planting of heatthy churches that reproduce naturally.
As an organisation we wll continue to achieve this by stsying..
SUSTAINABLE.. ECM IBrf(ain) ean onty help change Europe long-lem rf we are still here. Therefo
any new strategy wll lake into account our assets and our limits at the same time as seeking to apply
courageous faith in face of the spiritual needs of Europe.
FLEXIBLE. There is no way of knowing what tomorrow may bnng. Therefore we must always seek
strategies that allow for timely change based on the new challenges and opporfvnities before us.
VISIBLE.. Unless people and churches are kept awaTe of ECM (Britain) and our unique contribution lo
European ministy then we are bound to lose supporters. Appropriate new and ongoing media and
eans will need to be used to keep ourselves appropriately known to the correct constituencies.
RELATIONAL.. ECM (Britsinl has always focused on relationships. We want people lo have a
relationship w7th Jesus. We support workers in Europe through relational means. We encourage a
relational network of churches and individuals to provide the prayer and finanrjal support required lo
do European mini5ty.
Examples of this in ministry Fndude.-
encouraging relationships built on Christ-like love and respect (even vthen they have to be delivered
vlrtually due to COV119)
promoting fair treatment of migrants, asylum seekers and refugees
educating an¢J rehabllitaling those affected by substance abuse
creating spaces for People from different backgrounds lo come together
offering prayer gubdance and infomiation about difficult situations across Europe
Disclosure of IrrfoFmation to auditor
Each of the tnjstees has confimied that there is no information of véhlch they are aware which 1$ relevant to
the audit, bul of which the auditor is unawa. They have further confirme(I that they have tsken appropriate
steps to identify such relevant information and to ostabJ?sh that the auditor Is awarg of such information.
The trustees, report was approved by Ihe
oa
of Trustees.
Richard Lindlèy
Company Secretary
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The trustees, who are also the directors of European Christian Mission (Britain) for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **Opinion**
We have audited the financial statements of European Christian Mission (Britain) (the ‘charity’) for the year ended 31 December 2020 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice) .
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2020 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of our audit:
- the information given in the trustees' r eport, which includes the d irectors ' r eport prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the d irectors ' r eport included within the trustees' r eport has been prepared in accordance with applicable legal requirements.
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## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees' r eport.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' r eport and from the requirement to prepare a s trategic r eport.
## **Responsibilities of trustees**
As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below .
Based on our understanding of the company, we identified that the principal risks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and Charities Act 2011.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. We determined that the principal risks were related to payments to third parties, management bias in accounting estimates, furlough income and management override of controls.
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EUROPEAN CHRISTIAN MISSION (BRITAIN)
INDEPENDENT AUDITOR'S REPORT (CONTINUED}
TO THE TRUSTEES OF EUROPEAN CHRISTIAN MISSION (BRITAIN)
In response to the risks identified we designed procedures thich included, but were not limited lo..
verifying paymen15 to third parties on a sample basls
challenging significant accounting estimates sijch as pension provision
testing the calculation of claims made under the Coronavirus Job Retention Scheme
idents'fying and lesling joumal entries
Teviewing Trustees and Finance meeting minutes
evaluating the charity's internal contro15
There are inherent limitations in the audit procedures described above. The more removed that law5 and
regulations are from financial transactions, the less likely il is that we would become aware of non-compliance.
Material rnisstatemenls that arise due to fraud can be harder lo delecl than those that arise froTll error a5 they
may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website al.. https.'Il
www.frc.org.uklaudilorsresponsibdities. This description forms part of our auditor's ieport.
Use of our rèport
This report is made solely lo the charitable comp8ny'5 members, as a body. in accordance wlh Chapter 3 of Part
16 of the Companie5 Act 2006. Our audit work has been undertaken so that we might stale lo the charitable
company's members those matters we are required 10 51ale to them in an auditors, report and for no other
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than
the charrtable company and the charitable company's members as a body, for our audit work, for this report, or
for the opinions we have formed.
Richard Haffenden MA (Cantabl FCA IS&nlor Statutory Audltorl
for and on behalf of Jacob Cavenagh & Skeet
15 July 2021
Chartered Accountants
statutory Auditor
5 Robln Hood Lane
Sutton
Surrey
SM12SW
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 DECEMBER 2020**
|**Unrestricted Designated**
**Restricted**
**funds**
**funds**
**funds**
**2020**
**2020**
**2020**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and gifts
**101,631**
**-**
**824,251**
Legacies receivable
**65,390**
**-**
**-**
Investments
**3**
**7,504**
**-**
**-**
Other income
**4**
**2,703**
**-**
**-**
**Total income**
**177,228**
**-**
**824,251**
**Expenditure on:**
Raising funds
**5**
**11,670**
**-**
**-**
Charitable activities
**6**
**218,148**
**-**
**760,568**
**Total resources expended**
**229,818**
**-**
**760,568**
**Net (outgoing)/incoming resources before**
**transfers**
**(52,590)**
**-**
**63,683**
Gross transfers between funds
**79,886**
**-**
**(79,886)**
**Net income/(expenditure) for the year/**
**Net movement in funds**
**27,296**
**-**
**(16,203)**
Fund balances at 1 January 2020
**186,040**
**317,023**
**505,966**
**Fund balances at 31 December 2020**
**213,336**
**317,023**
**489,763**|**Total**Unrestricted Designated
funds
funds
**2020**
2019
2019
**£**
**£**
**£**
**925,882**
82,552
806
**65,390**
136,339
-
**7,504**
2,740
-
**2,703**
5,000
-
**1,001,479**
226,631
806
**11,670**
19,569
-
**978,716**
244,962
-
**990,386**
264,531
-
**11,093**
(37,900)
806
**-**
81,417
-
**11,093**
43,517
806
**1,009,029**
142,523
316,217
**1,020,122**
186,040
317,023|Restricted
funds
2019
**£**
858,340
-
-
-
858,340
-
727,600
727,600
130,740
(81,417)
49,323
456,643
505,966|Total
2019
**£**
941,698
136,339
2,740
5,000
1,085,777
19,569
972,562
992,131
93,646
-
93,646
915,383
1,009,029|
|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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EUROPEAN CHRISTIAN MISSION (BRITAIN)
BALANCE SHEET
AS A T 31 DECEMBER 2020
2020
2019
Notes
Fixed assets
Tangible assets
10
13,045
16,480
Current assets
Debtors
Cash al bank and in hand
11
16.949
1,029,240
93.137
963,?32
1,046,189
1,056.269
Creditors- amounts falllng due within
one year
12
19,1121
113,7201
Net current assets
1.037,077
1.042,549
Total assets less eurrent15abllltle$
1,OSO.122
1,059.029
Provisions for Ilabllilies
13
130,000}
150,0001
Net assets
1,020.122
1,009,029
Funds
Restricted funds
Designated funds
Unreslricled funds
20
19
489,763
317,023
213,336
505,966
317,023
186.040
1,020,122
1,009,029
These financial statements have been prepared in aGcord8nce with the provisK)ns appli¢8ble lo companies
subject to the small companies regime.
The financial statements were approved by the TDJstees on ...........
Mike M¢Master (Chairl
Trustee
Company Reglstratlon No. 3277668
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**Notes**
**Cash flows from operating activities**
Cash generated from operations
**17**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash generated from/(used in)**
**investing activities**
**Net cash used in financing activities**
**Net increase in cash and cash equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2020**
**£**
**£**
**62,375**
**(3,771)**
**7,504**
**3,733**
**-**
**66,108**
**963,132**
**1,029,240**|**2019**
**£**
**£**
61,527
(14,253)
2,740
(11,513)
-
50,014
913,118
963,132|
|---|---|---|
- 12 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **Charity information**
European Christian Mission (Britain) is a charitable company limited by guarantee incorporated in England and Wales. The registered office is Unit F34/35, Moulton Park Business Centre, Redhouse Road, Northampton, NN3 6AQ.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum & Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
The charitable company has designated certain funds for specific purposes even though there is no legal force to the designations.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
## **1.5 Expenditure**
Costs of generating funds
This expenditure comprises costs incurred in encouraging people and organisations to contribute financially to the charitable company’s work. It includes the costs of advertising for funds and the costs of mounting appeals.
- 13 -
**EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## Charitable expenditure
This includes all expenditure directly related to the objects of the charitable company that of the advancement of Christian faith in Europe and elsewhere, and comprises the following:
Missionary support costs : Allowances paid to missionaries in accordance with the charitable company’s policies .
Development costs : Costs of staffing ECM (Britain) and associated costs of finance, personnel and general administration in supporting the operations for which the charitable company is responsible. These have been allocated in full to development costs and are explained in more detail in the financial statements.
Project costs : Funds paid in support of approved projects, either from incoming donations and gifts received for that purpose, or from unrestricted funds in accordance with the charitable company’s policies.
## Support costs
These costs include the costs of governance arrangements which relate to the general running of the charitable company as opposed to the direct management functions inherent in general funds. This includes such terms as external audit, legal advice for the trustees and costs associated with constitutional and statutory matters. These are allocated to development costs.
There was a transfer made between restricted and unrestricted funds which is comprised of charges of up to 15% of the unrestricted overheads to cover attributable development and support overheads.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33.3% Straight Line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
All assets costing more than £1,000 are capitalised at cost and depreciated.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 14 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
**(Continued)**
## **1.9 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Provisions**
Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value , the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
- 15 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.13 Foreign exchange**
Income received from overseas is translated into sterling at the relevant exchange rate.
Costs incurred overseas are translated at the rate in operation on the date the funds were disbursed.
Assets and liabilities denominated in foreign currencies are translated at the rate in operation at the end of the charitable company’s financial period.
## **1.14 Job Retention Scheme government grant income**
For JRS grant income, the income is recognised in the period to which the underlying furloughed staff costs relate to.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The key estimates and assumptions made in these accounts are:
## **Tangible fixed assets**
The charity depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.
## **Pension liability**
T he liability of £ 30,000 (201 9 : £50,000) recognised in the financial statements is an estimate based on the annual cost and the ages of the former missionaries. This represents the amount provided for the future payments to former missionaries for a period of approximately 3 .5 years. It was reduced during the year as one of the pensioners died in May 2021.
- 16 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**3**|**Investments**|||
|---|---|---|---|
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
|||**£**|£|
||Interest receivable|**7,504**|2,740|
|**4**|**Other income**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
|||**£**|£|
||CJRS grant income|**2,703**|-|
||Additional Trust income|**-**|5,000|
|||**2,703**|5,000|
|**5**|**Raising funds**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2020**|2019|
|||**£**|£|
||Magazines/Publicity|**11,670**|19,569|
|||**11,670**|19,569|
- 17 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**6**
**Charitable activities**
**Develop- Missionary**
**Projects**
**ment**
**support**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Staff costs
**153,536**
**-**
**-**
Depreciation
**7,206**
**-**
**-**
Development expenses
**3,034**
**-**
**-**
Conferences
**5,000**
**-**
**-**
Pensions to retired missionaries
**(9,062)**
**-**
**-**
Office costs
**45,261**
**-**
**-**
Bank charges
**455**
**-**
**-**
Other costs
**6,686**
**-**
**-**
Governance costs
**6,032**
**-**
**-**
Missionary allowances and expenses
**-**
**740,996**
**-**
Projects
**-**
**-**
**19,572**
**218,148**
**740,996**
**19,572**
**Analysis by fund**
Unrestricted funds
**218,148**
**-**
**-**
Restricted funds
**-**
**740,996**
**19,572**
**218,148**
**740,996**
**19,572**
**7**
**Auditor's remuneration**
The analysis of auditor's remuneration is as follows:
**Fees payable to the charity's auditor:**
Audit of the charity's annual accounts|**Total**
**2020**
**£**
**153,536**
**7,206**
**3,034**
**5,000**
**(9,062)**
**45,261**
**455**
**6,686**
**6,032**
**740,996**
**19,572**
**978,716**
**218,148**
**760,568**
**978,716**
**2020**
**£**
**4,680**|Total
2019
£
151,902
3,070
8,496
6,328
11,188
49,595
1,241
6,708
6,434
696,799
30,801
972,562
244,962
727,600
972,562
2019
£
5,000|
|---|---|---|
## **8 Trustees**
No remuneration directly or indirectly out of the funds of the charitable company was paid or payable for the year to any Trustee or to any person or persons known to be connected with any of them.
Trustees attending meetings for the charitable company are entitled to reimbursement of their travelling e xpenses as appropriate. £ 0 was claimed in 20 20 (201 9 : £ 25 ).
During the year two Trustees of European Christian Mission (Britain) donated £ 628 (201 9 : £2, 936 ) in support of the missionaries.
- 18 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **9 Employees**
The average monthly number of employees during the year was:
|**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2020**
**Number**
9
**2020**
**£**
**137,522**
**5,035**
**10,979**
**153,536**|2019
Number
9
2019
£
135,435
5,764
10,703
151,902|
|---|---|---|
There were no employees whose annual remuneration was £60,000 or more. The staff costs and numbers do not include the missionaries working abroad.
## **10 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Fixtures and fittings**|
||**£**|
|**Cost**||
|At 1 January 2020|**76,067**|
|Additions|**3,771**|
|At 31 December 2020|**79,838**|
|**Depreciation and impairment**||
|At 1 January 2020|**59,587**|
|Depreciation charged in the year|**7,206**|
|At 31 December 2020|**66,793**|
|**Carrying amount**||
|At 31 December 2020|**13,045**|
|At 31 December 2019|16,480|
- 19 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**11**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**12**
**Creditors: amounts falling due within one year**
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
**13**
**Provisions for liabilities**
Movements on provisions:
At 1 January 2020
Reversal of provision
Utilisation of provision
At 31 December 2020|**2020**
2019
**£**
£
**9,304**
89,212
**7,645**
3,925
**16,949**
93,137
**2020**
2019
**£**
£
**2,321**
2,556
**-**
851
**2,111**
5,093
**4,680**
5,220
**9,112**
13,720
**2020**
2019
**£**
£
**30,000**
50,000
**£**
**50,000**
**(9,062)**
**(10,938)**
**30,000**|
|---|---|
The charity makes pension payments to 4 former missionaries (2019: 4) at a cost of £10,938 for the year (2019: £10,099). the payments are mainly made from the charity's unrestricted fund and are charged to the statement of financial activities in the year in which they are paid. The provision was reduced during the year as one of the pensioners died in May 2021.
## **14 Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £10,979 (2019 - £10,703).
- 20 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **15 Operating lease commitments**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
|Within one year
Between two and five years
Lease expense for the year|**2020**
**£**
**8,093**
**-**
**8,093**
**6,567**|2019
£
13,787
313
14,100
6,040|
|---|---|---|
## **16 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
## **Remuneration of key management personnel**
The remuneration of key management personnel is as follows.
|Aggregate compensation
**17**
**Cash generated from operations**
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
(Decrease) in provisions
**Cash generated from operations**
**18**
**Analysis of changes in net funds**
The charity had no debt during the year.|**2020**
**£**
**112,941**
**2020**
**£**
**11,093**
**(7,504)**
**7,206**
**76,188**
**(4,608)**
**(20,000)**
**62,375**|2019
£
107,209
2019
£
93,646
(2,740)
3,070
(34,687)
2,238
-
61,527|
|---|---|---|
- 21 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **19 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
||||**Movement**||**Movement**||
|---|---|---|---|---|---|---|
||||**in funds**||**in funds**||
|||**Balance at**|**Income**|
**Balance at**|**Income**|**Balance at**|
||**1**|**January 2019**||**1 January 2020**||**31 December**|
|||||||**2020**|
|||**£**|
**£**|
**£**|
**£**|**£**|
|Projects||**316,217**|
**806**|
**317,023**|
**-**|**317,023**|
|||**316,217**|
**806**|
**317,023**|
**-**|**317,023**|
The designated fund represents amounts set aside for otherwise unfunded projects, plus the proceeds from the sale of the building in 2017.
- 22 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **20 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 January 2019**
**£**
ECMB Missionaries
**377,406**
Other Missionaries
**17,540**
Projects
**61,697**
**456,643**|**Movement in funds**
**Income**
**Expenditure**
**£**
**£**
**775,946**
**(662,285)**
**32,278**
**(34,515)**
**50,116**
**(30,800)**
**858,340**
**(727,600)**|**Transfers**
**Balance at**
**1 January 2020**
**£**
**£**
**(72,681)**
**418,386**
**(1,812)**
**13,491**
**(6,924)**
**74,089**
**(81,417)**
**505,966**|**Movement in funds**
**Income**
**Expenditure**
**£**
**£**
**769,500**
**(699,402)**
**38,809**
**(41,592)**
**15,942**
**(19,574)**
**824,251**
**(760,568)**|**Transfers**
**Balance at**
**31 December**
**2020**
**£**
**£**
**(76,051)**
**412,433**
**(1,703)**
**9,005**
**(2,132)**
**68,325**
**(79,886)**
**489,763**|
|---|---|---|---|---|
The ECMB Missionaries fund is to support people working in a variety of church, mission and social action roles who are primarily linked to ECMB and supported by ECMB donors.
Other Missionaries are as above, but primarily linked to other ECM offices (e.g. ECMAusNZ), but where some donations are made via ECMB donors.
Projects are for ECMI or other projects supported by donors who wish to support work on a specific project.
There was a transfer of £ 79,886 (2019: £ 81,417 ) made between restricted and unrestricted funds is comprised of the charges up to 15% of the unrestricted overheads to cover attributable development and support overheads.
- 23 -
## **EUROPEAN CHRISTIAN MISSION (BRITAIN)**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **21 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2020**
**2020**
**2020**
**£**
**£**
**£**
Fund balances at 31 December 2020 are
represented by:
Tangible assets
**13,045**
**-**
**-**
Current assets/(liabilities)
**230,291**
**317,023**
**489,763**
Provisions
**(30,000)**
**-**
**-**
**213,336**
**317,023**
**489,763**|**Total**Unrestricted
funds
Designated
funds
**2020**
2019
2019
**£**
£
£
**13,045**
16,480
-
**1,037,077**
219,560
317,023
**(30,000)**
(50,000)
-
**1,020,122**
186,040
317,023|Restricted
funds
2019
£
-
505,966
-
505,966|Total
2019
£
16,480
1,042,549
(50,000)
1,009,029|
|---|---|---|---|
- 24 -